Green Education Foundation

Schedule D, Page 4, Part XIII

“Generally accepted accounting principles practiced in the united states of america require an entity to assess the probability that a tax position has a more likely than not (mltn) sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold , any unrecognized tax benefits and costs are estimated and regognized. Interest and penalties , if any , related to assessments by tax authorities will be classified as a component of interest and expense and other expense, respectively, in the statement of activities. A tax position may be considered as taken any time a taxpayer chooses amongst alternatives that affect the amount of their tax obligations and include, for example: tax exempt status; status as a pass-through entity (s corporations); decisions made in the process of conforming with tax laws; decisions not to file in certain jurisdictions and the characterization of incom or expenses. Tax returns are routinely open for review by the tax authorities for three years from their due date. Incertain circumstances the statute of limitations may remain open indefinitely. The foundation has been notified by the internal revenue service that it meets the qualifications to be classified as a tax exemt entity under section 501 (c) (3) of the internal revenue code. Since the continuance of this status is based upon continuing qualification, the foundation has identified this as a tax position. However, it has determined that this tax position meets mltn sustainability and does not result in an uncertainty requiring recognition.”